K+S earnings grow on higher fertilizer prices

MarcBisbal

The German chemical company's third-quarter revenue was 726.5 million euros ($858.4 million), up 6% compared with the year-earlier period. Earnings before interest, taxes, depreciation and amortization rose 37% to EUR76.7 million. After-tax earnings swung to a profit of EUR12.2 million from a EUR28.3 million loss a year earlier.

Earnings increased thanks to higher average prices, the company said, adding that stable disposal of saline wastewater boosted production of high-margin fertilizer specialties.

Salt revenue fell in the quarter, as higher sales volumes in salt for chemical use were offset by lower sales volumes in other segments, the company said.

K+S confirmed its outlook for the year. It expects Ebitda of EUR560 million-EUR660 million and earnings before interest and taxes of EUR260 million-EUR360 million.

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